Hello Future Millionaires!
ETH is currently in a descending channel, chances are good that it will continue in this channel as it has. However, should the bulls take control and find support above the 0.382 Fibonacci, then I'll be looking for a long entry. I have that charted as well!
There is a good chance that if we remain in the channel, the 0.618 Fibonacci (around $540) will be hit. If we break below there, then I'll looking for the 0.786 (around $520).
If we break down from this channel, I think we are headed to $440-$475 within a few weeks. If so, I'll be looking to buy that dip!
Follow us now for regular updates on the hottest cryptos!
Let's get this crypto!
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Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
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Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
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Entry: 568.00
Entry Zone: 573.50 - 561.50
T1: 559.30
T2: 553.90
T3: 545.85
T4: 540.00
T5: 528.50
T6: 520.11
Stop: 582.59
--
R:R: 3.28
Risk: 2.57%
Reward: 8.43%
Leverage: 15X
Leveraged Risk: 38.55%
Leveraged Reward: 126.45%
Risk Assessment: MEDIUM-HIGH
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
ETH is currently in a descending channel, chances are good that it will continue in this channel as it has. However, should the bulls take control and find support above the 0.382 Fibonacci, then I'll be looking for a long entry. I have that charted as well!
There is a good chance that if we remain in the channel, the 0.618 Fibonacci (around $540) will be hit. If we break below there, then I'll looking for the 0.786 (around $520).
If we break down from this channel, I think we are headed to $440-$475 within a few weeks. If so, I'll be looking to buy that dip!
Follow us now for regular updates on the hottest cryptos!
Let's get this crypto!
---
Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
---
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Entry: 568.00
Entry Zone: 573.50 - 561.50
T1: 559.30
T2: 553.90
T3: 545.85
T4: 540.00
T5: 528.50
T6: 520.11
Stop: 582.59
--
R:R: 3.28
Risk: 2.57%
Reward: 8.43%
Leverage: 15X
Leveraged Risk: 38.55%
Leveraged Reward: 126.45%
Risk Assessment: MEDIUM-HIGH
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
Comment:
Trade was never active. Long trade was active and all profit targets were achieved!
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